Comparative analysis of the 2008 global economic crisis through macroeconomic indicators: Turkey, Argentina and Mexico

Economic crises has damaged the country's economies for long years. Each country has adopted the best policy for their own sake. The most important goal has been the fight against inflation and sustainable growth for developing countries. With increasing globalisation, a crisis which occurs in a country has started to affect the other countries which the relevant country has economic relations. The 2008 Crisis has occured due to liquidty shortage in mortgage market in the USA. It firstly affected European countries and then all over the world eventually, so it became a global crisis. . It's been expected to take lessons from past crises and predict possible crises for countries. However this expectation didn't prevent the adverse effects of economic crises. In accordance to the pupose of the thesis, the concept of the economic crisis was defined and the relevant literatüre was surveyed at first. Then, an outline of selected countries which are Argentina, Mexico and Turkey, were given and their financial crisis experiences and their way out processes were addressed. The effects of Global Financial Crisis of 2008 was explained by comparing the selected macroeconomic datas in the period between 1990 and 2018 for these countries. The effects of the Global Financial Crisis are more visible in the following year of the crisis 2009 in the selected counries, Turkey, Argentina, Mexico, by taking 2008 as the base year. The unemployment, growth, inflation, rates, foreign debt and current account ratio to GDP of all cases grew in the same manner.